The Euro 2020 play-offs are just around the corner, and thousands of bettors are wagering their cryptos to either support their national team or to increase their money.
Millions of fans from around the globe will be tuning in or taking to the stadiums to watch the elite players of football.
Euro 2020 is the biggest sporting event of this year and, considering that football is the most popular sport in the world, statistically speaking, there will be more punters than ever placing their wagers on online platforms.
Crypto betting has seen an incremental rise in users over the last two years, as more online bookies are facilitating their use by integrating Bitcoin and other altcoins. Crypto betting platforms such as 1xBit allow users to place bets using more than 20 cryptocurrencies, making betting more available for crypto enthusiasts.
How Will Euro 2020 Impact Crypto Betting?
The magnitude of an event such as Euro 2020 will undoubtedly attract record numbers of crypto bettors. This increase in demand will prompt all online sportsbooks to put forward enticing promotions, bonuses, and odds to help them stand out from the crowd.
Some betting establishments might also be pushed to expand their list of crypto options to meet a much larger and diverse group of punters.
While there are many fiat options available for sports betting, cryptocurrency has provided online gamblers with a convenient way to transfer funds without relying on an external third party.
People from each country on the globe can enjoy the thrill of supporting their favorite teams and players and access the betting services and earnings offered by online bookies.
The integration of crypto in the online betting industry is estimated to hit $73.5 million by the end of 2024.
Through crypto, people from all over the world will have access to bet on the much-anticipated matches of Euro 2020. It is expected that many will take advantage of the privacy of digital assets to participate in the betting opportunities created by this football tournament.
Currently, more than 10% of all online gambling sites in the world accept cryptocurrencies such as Bitcoin, Ethereum, and Litecoin for most of their games and sports.
While the number of fiat currencies surpasses those of crypto betting sites for now, the anonymity and security of digital coins are bound to bring in more players.
Buying tickets with cryptocurrency
This year, UEFA and FIFA partnered up with AlphaWallet and tokenized 20,000 VIP tickets, making them available for purchase with Ethereum (ETH). This integration will undoubtedly increase the popularity of cryptocurrencies, serving as a real use case of merging crypto technology into the real world.
In addition, several other businesses are providing services such as airplane tickets, hotel reservations, and even food & drinks in exchange for crypto payments.
